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Dutch blockchain company LegalThings announced in a press release on Wednesday that it is developing an app, LegalFling, which in theory could allow about-to-bone partners to log what they are and are not okay with before they bone. The company notes that you can mark your do’s and don’ts “with the swipe of a finger.”

Consent. Now on the blockchain.

Escalate a breach with a single click, triggering cease and desist letters and enforcing penalty payments

Transaction fees would skyrocket if China goes offline. They are already too high and bitcoin has lost all meaning other than a speculative device.

No, it wouldn't. Like Nicholai already noted this won't affect the supply of Bitcoin at all, and neither would it affect the number of transactions approved per second and thus the transaction fees (which are indeed stupidly high). The Bitcoin algorithm is quite clever and self-adjusts for available mining capacity. It'll create some minor swings in the short term but correct in a week or so.

Transaction fees would skyrocket if China goes offline. They are already too high and bitcoin has lost all meaning other than a speculative device.

No, it wouldn't. Like Nicholai already noted this won't affect the supply of Bitcoin at all, and neither would it affect the number of transactions approved per second and thus the transaction fees (which are indeed stupidly high). The Bitcoin algorithm is quite clever and self-adjusts for available mining capacity. It'll create some minor swings in the short term but correct in a week or so.

Transaction fees would skyrocket if China goes offline. They are already too high and bitcoin has lost all meaning other than a speculative device.

No, it wouldn't. Like Nicholai already noted this won't affect the supply of Bitcoin at all, and neither would it affect the number of transactions approved per second and thus the transaction fees (which are indeed stupidly high). The Bitcoin algorithm is quite clever and self-adjusts for available mining capacity. It'll create some minor swings in the short term but correct in a week or so.

I dont know why I bother but here goes nothing.

Bitcoin is designed in a way that it can only become more computationaly difficult to add new blocks as time goes on.

If Chinese miners stop you have same blockchain as before, but Western miners pay much higher electricity bill. To profit they must only include transactions with highest fees.

In a sane world this would lead to drop in bitcoin prices as it becomes unusable for small transactions as you either pay significant % of transaction as fees or wait days for your transaction to be logged. So you find bitcoin inpractical and sell it to switch to dogecoin.

Dutch blockchain company LegalThings announced in a press release on Wednesday that it is developing an app, LegalFling, which in theory could allow about-to-bone partners to log what they are and are not okay with before they bone. The company notes that you can mark your do’s and don’ts “with the swipe of a finger.”

Consent. Now on the blockchain.

Escalate a breach with a single click, triggering cease and desist letters and enforcing penalty payments

Well, to me that reads basically like a PR-stunt description and implementation of smart contracts.

I mean, we're all (most of us, at least) around long enough to remember how at first any established workflow had added "with a computer" and then sold as something new, to be followed by "on the internet". The new catchphrase now is "on the blockchain".

Transaction fees would skyrocket if China goes offline. They are already too high and bitcoin has lost all meaning other than a speculative device.

No, it wouldn't. Like Nicholai already noted this won't affect the supply of Bitcoin at all, and neither would it affect the number of transactions approved per second and thus the transaction fees (which are indeed stupidly high). The Bitcoin algorithm is quite clever and self-adjusts for available mining capacity. It'll create some minor swings in the short term but correct in a week or so.

I dont know why I bother but here goes nothing.

Bitcoin is designed in a way that it can only become more computationaly difficult to add new blocks as time goes on.

Incorrect. It's designed to spit out new blocks at a predictable rate which slows down over time. The actual computation that has to be performed is a function of how many other miners are active at the same time. If more miners are active the difficulty goes up, if less miners are active the difficulty goes down.

Originally Posted by dzajic

If Chinese miners stop you have same blockchain as before, but Western miners pay much higher electricity bill. To profit they must only include transactions with highest fees.

If less miners are active the difficulty of computing a new block goes down, so the amount of electricity all miners spend together per block also goes down. Chinese miners stopping means that Western miners make more profit, not less. The electricity bill of the Western miner stays the same, but the chance that they get to make the next block goes up.

Originally Posted by dzajic

In a sane world this would lead to drop in bitcoin prices as it becomes unusable for small transactions as you either pay significant % of transaction as fees or wait days for your transaction to be logged. So you find bitcoin inpractical and sell it to switch to dogecoin.

This is already the case, bitcoin fees have been way too high for months now to use it as an actual currency. Which is why loads of companies have already dropped Bitcoin as a payment method, and some have started to accept alternatives like Bitcoin Cash or Litecoin.

The people behind Bitcoin believe that a Lightning Network will solve all their problems, but I'm quite skeptical about this myself.

Originally Posted by VARRAKK

So far for me the Cardano, Iota & Ripple seems most interesting.

Be careful with Ripple, it's massively overvalued at the moment. Ripple the company is doing extremely well and scoring new customers left and right. None of them are using Ripple the blockchain. There are several reasons to believe they will never use Ripple the blockchain. Ripple's current value is entirely due to speculation and people misunderstanding that the blockchain has zero use as it stands now and is not likely to be used for it's intended purpose anytime soon if ever.

That's not to say you can't make money with Ripple, the speculation will probably continue for a while.

I got my last couple of GPUs for free from my mate who keeps getting given them by nvidia.

I think the last gpu I bought was a 290...

Originally Posted by Paul Mason

It is absurd that we are capable of witnessing a 40,000 year old system of gender oppression begin to dissolve before our eyes yet still see the abolition of a 200 year old economic system as an unrealistic utopia.